Download Marketing Terms: Product Development and Consumer Behavior and more Quizzes Marketing Management in PDF only on Docsity! TERM 1 good DEFINITION 1 a tangible product that we can see, touch, smell, hear, or taste TERM 2 core product DEFINITION 2 all the benefits the product will provide for consumers or business customers TERM 3 actual product DEFINITION 3 the physical good or the delivered service that supplies the desired benefit TERM 4 augmented product DEFINITION 4 the actual product plus other supporting features such as a warranty, credit, delivery, installation, and repair service after the sale TERM 5 durable goods DEFINITION 5 consumer products that provide benefits over a long period of time, such as cars, furniture, and appliances TERM 6 nondurable goods DEFINITION 6 consumer products that provide benefits for a short time because they are consumed or are no longer useful TERM 7 convenience product DEFINITION 7 a consumer good or service that is usually low-priced, widely available, and purchased frequently with a minimum of comparison and effort TERM 8 staples DEFINITION 8 basic or necessary items that are available almost everywhere TERM 9 impulse product DEFINITION 9 a product people often buy on the spur of the moment TERM 10 emergency products DEFINITION 10 products we purchase when we're in dire need TERM 21 innovation DEFINITION 21 a product that consumers perceive to be new and different from existing products TERM 22 continuous innovation DEFINITION 22 a modification of an existing product that sets one brand apart from its competitiors TERM 23 knockoff DEFINITION 23 a new product that copies, with slight modification, the design of an original product TERM 24 dynamically continuous innovation DEFINITION 24 a change in an existing product that requires a moderate amount of learning or behavior change TERM 25 convergence DEFINITION 25 the coming together of two or more technologies to create a new system with greater benefits than its separate parts TERM 26 discontinuous innovation DEFINITION 26 a totally new product that creates major changes in the way we live TERM 27 idea generation DEFINITION 27 the first step of product development in which marketers brainstorm for products that provide customer benefits and are compatible with the company mission TERM 28 product concept development and screening DEFINITION 28 the second step of product development in which marketers test product ideas for technical and commercial success TERM 29 green marketing DEFINITION 29 the development of marketing strategies that support environmental stewardship by creating an environmentally- founded differential benefit in the minds of consumers TERM 30 business analysis DEFINITION 30 the step in the product development process in which marketers assess a product's commercial viability TERM 31 technical development DEFINITION 31 the step in the product development process in which company engineers refine and perfect a new product TERM 32 prototypes DEFINITION 32 test versions of a proposed product TERM 33 test marketing DEFINITION 33 testing the complete marketing plan in a small geographic area that is similar to the larger market that the firm hopes to enter TERM 34 commercialization DEFINITION 34 the final step in the product development process in which a new product is launched into the market TERM 35 product adaption DEFINITION 35 the process by which a consumer or business customer begins to buy and use a new good, service, or idea
